This Craft Cannabis Company Reports Q3 2023 Results With 48% Revenue Growth
This Craft Cannabis Company Reports Q3 2023 Results With 48% Revenue Growth
Grown Rogue International Inc. (CSE:GRIN) (OTC:GRUSF) recently reported its fiscal third quarter 2023 results for the three months ended July 31, 2023.
Grown Rogue国际公司(CSE：GRIN)(场外交易代码：GRUSF)最近公布了截至2023年7月31日的三个月的2023财年第三季度业绩。
Third Quarter 2023 Financial Highlights
2023年第三季度财务亮点
- Revenue surged 48%, from $4.3 million to $6.3 million in Q3 2022.
- Operating Cash Flow (OCF), before changes in working capital (BC WC), reached $1.9 million, up from $0.9 million in Q3 2022.
- The company achieved a Free Cash Flow (FCF) of $1.1 million, after spending $0.8 million on working capital and capital expenditures.
- Grown Rogue also secured $5 million in gross proceeds through a convertible debenture financing in July and later closed a second tranche for a total of $6 million in gross proceeds.
- Subsequent to the quarter-end, $1,650,000 of the company's existing convertible debentures were converted, leaving a total convertible debt of $6,350,000.
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- 收入2022年第三季度从430万美元飙升至630万美元，涨幅为48%。
- 营运现金流在营运资本(BC WC)变化之前的OCF达到190万美元，高于2022年第三季度的90万美元。
- 这家公司实现了自由现金流在周转资本和资本支出80万美元之后，净现金流动率(FCF)为110万美元。
- Grown Rogue还在7月份通过可转换债券融资获得了500万美元的毛收入，后来完成了第二批融资，毛收入总计600万美元。
- 在季度末之后，该公司现有的可转换债券中有1,650,000美元被转换，总可转换债务为6,350,000美元。
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Strategic Partnerships and Market Highlights
战略合作伙伴关系和市场亮点
Grown Rogue announced a strategic advisory agreement with Goodness Growth Holdings, Inc., focusing on improving operations in Minnesota and Maryland.
Grown Rogue宣布与以下公司达成战略咨询协议Good ness Growth Holdings，Inc.，专注于改善明尼苏达州和马里兰州的运营。
In the Oregon market, the company reported these results:
在俄勒冈州市场，该公司公布了以下业绩：
- Revenue reached $3.2 million, up 35% from $2.4 million in Q3 2022.
- Grown Rogue maintained its position as the #1 flower brand for nine consecutive quarters, according to LeafLink's MarketScape data.
- The launch of a 10-pack craft pre-roll product garnered positive initial traction.
- The company moved up to the #2 total wholesaler in the state from #3, according to MarketScape.
- 营收达到320万美元，较2022年第三季度的240万美元增长35%。
- 根据LeafLink的MarketScape数据，Grown Rogue连续九个季度保持头号花卉品牌的地位。
- 推出一款10件装的工艺预滚装产品，最初获得了积极的吸引力。
- 根据MarketScape的数据，该公司在该州的总批发商排名从第三位上升到第二位。
In Michigan, the company also demonstrated substantial growth:
在密歇根州，该公司也出现了大幅增长：
- Revenue soared to $2.8 million, a 53% increase from $1.9 million in Q3 2022.
- Grown Rogue launched strain-specific packaging, resulting in higher pricing and product mix for pre-packaged products.
- Michigan sales hit a record $277 million in August, making it the second-largest market in the U.S.
- 营收飙升至280万美元，较2022年第三季度的190万美元增长53%。
- Grown Rogue推出了特定菌株的包装，导致预包装产品的定价和产品组合更高。
- 密歇根州销售额创历史新高8月份为2.77亿美元，使其成为美国第二大市场。
Management and Market Outlook
管理与市场展望
"Our $6.3M in revenue continues an upward trajectory with a sequential increase of 5%, after last quarter's 18% increase over our previous record quarter," said Obie Strickler, CEO of Grown Rogue.
“我们630万美元的收入继续保持上升趋势，环比增长5%，上个季度比上一个创纪录的季度增长了18%，”他说。奥比·斯特里克勒，Grown Rogue的首席执行官。
"Our year-over-year revenue and EBITDA growth of 48% and 79%, respectively, shows our commitment to controlling costs and our focus on producing high-quality cannabis products that delight our team and customers."
我们的收入和EBITDA分别同比增长48%和79%，表明我们致力于控制成本，并专注于生产高质量的大麻产品，以取悦我们的团队和客户。
Price Action: GRUSF shares were trading up 4% at $0.26 per share Thursday afternoon.
价格行动：周四下午，GRUSF股价上涨4%，至每股0.26美元。
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Image by El Planteo
图片由El Planteo提供